Market Analytics and Considerations
Key Notes
- Consumer confidence in Michigan was 64.6, exceeding estimates of 60.5.
- Predictions for annualized decrease for the fourth month in succession.
In spite of exceeding market forecasts, the most recent Michigan Consumer Sentiment report found that consumer sentiment is still historically low. Outlook for inflation in the upcoming year decreased from 4.4percentage points to 4%, while those for the next 5 years increased slightly from 2.9percentage points in Dec to 3%. Since April 2021, just one average has not been less. “Ambiguity across both inflation expectations measure stays high, and shifts in global dynamics throughout the coming months may create a turnaround in substantial advances,” based on the University of Michigan
Relevant USD Index values
The index is currently up 0.14% at 102.38, and the next resistance is at 105.63 (the month’s top from Jan 6), then 106.39 (the 200-day SMA), and lastly 107.19. weekly top Nov 30 On the contrary hand, a breach of 102.07 (the monthly level set on Jan 12) would allow access to 101.29 (the month bottom set on May 30) and ultimately 100.00. (psychological mark
